BUSINESS: If you want to be a billionaire, it is possible. At the age of 20, you can put away N100,000 every month, and hit that target by 60.
You won’t just have the N100,000 dormant of course. You need to have it in a bank, in a fixed deposit system so that it can likewise grow over time.
If you are older than twenty, you can still be a billionaire, just adjust the sum slightly.
It is so much easier to become a billionaire now than any other time. We have facilities that make it easier and faster to achieve.
Maybe not everyone can become a billionaire, but a lot of people can. Especially, some people say they aren’t earning high, so they can’t save very much. But you can build a momentum and see where that takes you. You get on a budget, pay off any debt, and put as much as you can in the bank toward your retirement. If you’re already doing that, sit down with your spouse or a friend, look at your budget, and decide how you can trim your expenses to put more money in your investment accounts. Then, stick to your plan!
Not everyone has or can put away loads of money when they’re first starting out. That goes without saying, but it doesn’t mean you’re doomed to a miserly retirement. Start with a percentage you can manage and increase the percentage every year so your investing grows as your career (and paycheck) grows. If you get a bonus, throw that in your savings or investment account too.
There’s nothing fancy about building wealth. The question is whether you’re willing to do the work to get there. It’s about avoiding debt, living on a budget, staying on guard against stupid decisions, and investing your money wisely.